What’s new in logistics: At the 2024 MODEX supply chain conference in UPS’ hometown of Atlanta, UPS Supply Chain Solutions former President Bill Seward delivered a keynote address covering what’s next in logistics.
Here are four trends that are going to be changing the industry in 2024 and beyond:
1. The rise of connected digital solutions
At UPS, our customers are increasingly looking for digital solutions, especially ones that boost cross-platform and cross-network connectivity, linking every part of the supply chain.
We are meeting these needs with software platforms, like the UPS Forwarding Hub, a digital customer portal designed specifically for freight shippers. And UPS Supply Chain Symphony is a cloud-based visibility platform that orchestrates customer supply chains from end-to-end. We are talking inbound, warehousing and inventory management, distribution, final mile, returns and everything in between.
‘These tools empower our customers to operate more efficiently, gain better visibility into their supply chains and address challenges as they arise’, Bill said.
2. Technology is delivering on its promise
Next-generation warehousing features automation that physically helps move inventory while also helping workers be more effective. As seen in our UPS Velocity facility, collaborative robots work alongside UPSers, improving efficiency and safety, while reducing repetitive tasks.
With the help of skilled team members, Velocity can process over 350,000 items per day – significantly more than a non-automated warehouse.
3. Trade lanes are evolving
Supply chains are diversifying, with a lot of newfound focus on countries like Mexico and India. And while China is still a major player in global supply chains, new players are entering the fray, like Vietnam, Thailand and others.
‘If the last time you looked at your supply chain approach was three years ago, you need to look again because things have changed so dramatically‘, Bill said.
Check out our comprehensive Nearshoring Guide to learn how you can set up a nearshoring solution with UPS Supply Chain Solutions.
4. Sustainability is the new norm
Environmental sustainability has become table stakes for doing business with others. At UPS, our logistics solutions are being designed with sustainability at their core.
With our presence in over 200 countries and territories, we have seen how climate change, air quality and socioeconomic challenges impact communities around the world. Alternative fuels, clean renewable energy and improved building efficiency will help UPS achieve carbon neutrality by 2050.
Did you know? A lot of customers are already working with UPS to embrace these trends in supply chain. Take a look:
- Welcome to the next generation of brokerage services
- Board game maker Cephalofair finds the perfect shipping partner with UPS
- The perfect Christmas pair - HoneyBaked
- 3 ways UPS Healthcare delivers temperature-sensitive biologics like insulin around the world
For a full breakdown of Bill’s keynote address at MODEX, read more in DC Velocity here.